Is Bangladesh going to accept Cryptocurrency???

[Swopon]

Bangladesh is known as one of the resourceful third worlds countries of the world. But their economy is very poor and maximum people are living below the poverty line. Though their GDP growth is very well and it's increasing day by day.

Their government is not crypto-friendly and it is strongly prohibited there. Some people already got punishment due to using transaction via cryptocurrency.

Currently, I have noticed some changes happened with Bangladesh, and journalists of that country already published articles about cryptocurrency and trying to highlight some position aspects.

The big changes happened with some exchanges. A few days back, Kucoin announced to accept Bangladeshi taka via the P2P system by local merchants. Now I have noticed that Binance is also accepting and looking for a local P2P merchant who has a stable source of cryptocurrency and BDT. So it is good news for them that maybe their government will accept cryptocurrency. Maybe we will get a chance soon.

When big exchanges are coming to push cryptocurrency there so another good news that is not so far. The scenario can be different as we think but we can hope for the best.

Binance already published this article-- https://www.binance.com/en/support/articles/14cbf4930c544dac96161f166ac8eecd

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[Little Mouse]

Although Kucoin and Binance's implementation of BDT is a good news but it’s nothing much important because we already had the same trading system with localbitcoins, paxful etc. So, I don't think it will have any affect with the thought of our ministry. However, Bitcoin will be legalized eventually after few months or few years for sure.

Can you show which journal from our country publish article on crypto? I would love to read.

[Sparrow96]

I don't think this means Bangladesh is going to accept Cryptocurrencies. Bangladesh will accept Cryptocurrencies one day. But not soon. Bangladesh isn't able to accept Cryptocurrencies because of Law enforcing agencies and Bangladesh Bank.

P2P system isn't new in Bangladesh. Paxful and Localbitcoin already running P2P Buy and Sell for Bangladesh.

Currently, Bangladesh is more interesting in adopting Blockchain Technology because of transparency and security. Ripple now partnered with Bkash. Ripple has also joined with the Bank of Asia.

This partnering news is good for the Bangladeshi community because this means Bangladesh Banks are understanding the importance of Blockchain. I wish Bangladesh will understand the importance of Cryptocurrencies also and legalize it.

Can you show which journal from our country publish article on crypto? I would love to read.

I can show only negative news and propaganda against Bitcoin. One newspaper is calling Bitcoin Gambling. I feel sorry for them for their ignorance.

বিটকয়েন: বিশ্ব ও বাংলাদেশ প্রেক্ষাপট

বিটকয়েনে লেনদেনকারীদের খুঁজছে গোয়েন্দারা

[fiulpro]

Bangladesh can make their decision based on what their neighbors are doing like India. The Indian government is going back and forth regarding the ban/no ban. Right now bangladesh cannot afford to take chances since their economy is already so bad but the influence can be a good deal if they see India, china , maldives there the cryptocurrencies have not yet been banned and is kind of a grey area for them.
So I do believe that in the upcoming years they will move towards allowing the cryptocurrencies , maybe not making it legal but at the same time not making it illegal , if you know what I mean. Therefore the government might just let it go.
Let's be positive and ask your government to make this change. If you are a citizen you do have every right to ask regarding what you want , get people around you who are maybe interested in bitcoins and then sign a petition, go to the consumer court. Even if the plea gets rejected you will have a small column in the paper or news if it's good enough then maybe it will start a revolution??
Never hurts trying!
Other than that if it's illegal , you can very easily ask your friends to trade it in real time for you, where the cryptocurrencies are legal or just use VPN and erase the traces.

[Fatemablabla]

Exchangers allowing p2p for BDT is a great news for users like us. But I don’t think government will allow is to use bitcoin soon. The main problem here is the corruption that our top people’s do. If bitcoin gets the positive sign they will transfer their corrupted money to bitcoin and transfer it out of the country. I think it’s a big reason why government still banned bitcoin here as we are no 1 on the corrupted country(maybe or no 2).

But yes the country is allowing blockchain technology and going towards it slowly. As Sparrow mentioned above that Ripple already partnered with Bankasia. Hope so many blockchain products will come to Bangladesh in near future.

[Swopon]

Can you show which journal from our country publish article on crypto? I would love to read.

The country is corrupted and influenced by the government officials in each and every sector you go. Here, all things are negative regarding Bitcoin and cryptocurrency. So it should be pushed first with some positive news and need to flourish those news as much as we can.

Here are some news which published by national and international media:
Digital Bangladesh Needs Digital Currency

Bangladesh Bank with $4 Billion in Assets Now Employs RippleNet

Bangladesh Remittance Corridor Using Ripples Blockchain Technology

Thanks for your interest. I believe that The Daily Star is the most influential newspaper of Bangladesh.

[kolbalish]

Cryptocurrency is very strictly prohibited in the six countries of the world so far and Bangladesh is one of them. So the news of P2P transactions allowing by big exchanges is really good news for Bangladeshi people. Only this factor can not change the system there. But it can push the cryptocurrency transaction and perhaps it can increase the crypto involvement.

[avikz]

I think the central bank of Bangladesh has already prohibited the usage of cryptocurrencies in the country few years back. I recollect there they have also made some arrests at that time for using cryptocurrency. I may be wrong as well.

The problems of Bangladesh and India are same - high corruption! The government officials and politicians will never want cryptos to be legalized in their country because it will make the common people powerful. But since Bangladesh has become the fastest growing economy in Asia, the finance minist6make take some positive steps as well.

[Paycoinzzz]

Allowing the expansion of financial services is different from accepting Cryptocurrency. Because in the US, Bitcoin hasn't really legalized yet and only allows major financial institutions to hold Bitcoin, in addition, there will be no purpose of transaction or use it as a payment method.
Paypal has also opened a similar service, but it is also limited by some US government laws. Maybe this is good news for traders in Bangladesh, but the adoption of Crypto will be in the distant future.

[Sterbens]

Even though when the country of Bangladesh still prohibits its citizens from investing in crypto, there are always many ways and ways they do to access various exchanges, almost all of them carry out various scams under the guise of exchanges, one of which I have heard is a local exchange called Kryptomo. com. I'm trying to identify and pretend to be a member, and the points I'm getting at the moment are, the graph is unstable and doesn't show any genuine movements, the chat room is
  not working, only three cryptos available, bitcoin, Ethereum and KRT (kryptomo) ,, for which they store Airdrops on several telegram groups. I got information from my friend who is also a member there. he gets crypto from Airdrop and tries to make a sale from KRT / Eth. after that he wanted to cash out the result, but failed, because he had to make a deposit first before making a withdrawal. even though the stock exchange already has a balance.

[PonZZ]

All you described here is the start of positive changes, but it's too early to draw any conclusion. It is not clear the future of Cryptocurrency in Bangladesh but we can only predict. Hence, the popularity of Bitcoin and other Cryptocurrency now most of the country in font of Crypto adaption. So, using Blockchain technology money transaction is now secure, anonymous, valid able, emutable fast and low fees featured.

[lifeOK]

Bangladesh Govt. consider involvements in bitcoin and other cryptocurrencies as illegal according to their ancient Act. However, Nothing stop you to use cryptocurrencies, you can buy bitcoin, make p2p transfer etc. This could be revolutionary movement if Bangladesh going to acknowledge Cryptocurrency. Indeed, this acceptance give more boost to make real Digital Bangladesh.

Enough is Enough, there still some positive news out there, let's spread it....

Digital Bangladesh Needs Digital Currency

[7788bitcoin]

The big changes happened with some exchanges. A few days back, Kucoin announced to accept Bangladeshi taka via the P2P system by local merchants. Now I have noticed that Binance is also accepting and looking for a local P2P merchant who has a stable source of cryptocurrency and BDT. So it is good news for them that maybe their government will accept cryptocurrency. Maybe we will get a chance soon.

If big exchanges like Kucoin and Binance allows people from Bangladesh to trade using P2P then the government cannot do anything to disrupt that. The government cannot follow the trail until you are dealing with huge amounts and you just need to learn the drill on how to counter that.

If i am trading from a country that puts me in trouble for dealing in cryptocurrency, i will create a profile of a freelancer and address all the transaction as the work i undertook.

[Fesatmas]

I'm still not sure about the Bangladeshi regulations that will support P2P exchanges. apart from strictly prohibiting crypto this country is very minimal with its economy. I don't understand what the country really wants. Isn't it that letting people invest in bitcoin will reduce the burden on the country's economy, and at the same time state revenues to build a higher economy will begin to be resolved.

[ReiMomo]

The news appears to me that the Bangladesh government will soon allow cryptocurrencies in the country, for now, it could be like P2P but I am still positive that gradually they will still allow it for they still need to cope up and at least be even with their neighboring countries on technology and digitalization.

However, what could be greater news here is that whether the government would allow cryptocurrencies in the country or not still more Bangladeshis are getting aware of bitcoins and starting to invest which could somehow lead to global adoption of bitcoin.

[Vaskiy]

Bangladesh has been found to be against the cryptocurrency usage for years. Quite often the policemen of the country used to arrest people for making transactions in bitcoin or for some activities connected with bitcoin. However people continue to use it neglecting the government. This means people are in much need of it, and the government should understand it. In the short or long it won't easily end up accepting cryptocurrency.

[CarnagexD]

If their government is that committed to stopping people from using cryptocurrency rather than just have them allow it to be usable, then that most likely means they want this fight and would be willing to incarcerate every people in Bangladesh if it may to ensure that bitcoin finds no success there. Hopwfully this changes in the future but if not, more and more people will just use it and will get jailed later on.

[Casdinyard]

Hard to visualize at this moment. It is not a hidden thing that Bangladesh has corrupted government officials and also, cryptocurrencies are banned in this country which makes sense in a way that cryptocurrencies are mostly decentralized giving a government no power at all to impose taxation. Thus, this won't benefit the government on not being able to "milk" their people on every transaction (silly!). But I am not saying there's no chance at all but rather, I vew this as a reason to why this technology is not yet accepted in this area. Maybe things will be adopted once officials are back to their "duties".

[pepeepe]

Bangladesh has been found to be against the cryptocurrency usage for years. Quite often the policemen of the country used to arrest people for making transactions in bitcoin or for some activities connected with bitcoin. However people continue to use it neglecting the government. This means people are in much need of it, and the government should understand it. In the short or long it won't easily end up accepting cryptocurrency.

Making money using cryptocurrency or bitcoin is not a wrong thing or an illegal way to make money then not only Bangladesh but all countries government or law enforcement should legalize cryptocurrency now this bitcoin or cryptocurrency has become popular in all countries because honestly  It's a good way to make money at home, but I hope the Bangladesh government will soon realize how popular cryptocurrency or bitcoin is with the Bangladeshi people and understand that the Bangladesh government will declare this cryptocurrency legal.

[Kupid002]

If their government is that committed to stopping people from using cryptocurrency rather than just have them allow it to be usable, then that most likely means they want this fight and would be willing to incarcerate every people in Bangladesh if it may to ensure that bitcoin finds no success there. Hopwfully this changes in the future but if not, more and more people will just use it and will get jailed later on.

They already see the potential of using crypto currency as alternative in their own currency.

Base on what given link above they are considering acceptance of crypto currency in this countries  I mean they more open for crypto currency unlike before, even exchange already add that option to deposit in them using their currency by a P2P in binance or kucoin.